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Electric Vehicle Parts And Components Market 2023 : By Industry Trends, Segments And Forecast To 2032 | Ford Motor Company, General Motors, BMW Group, Robert Bosch GmbH, Tesla Inc.
Electric Vehicle Parts And Components Market Trends
The Business Research Company's Electric Vehicle Parts And Components Global Market Report 2023 identifies increasing adoption of electric vehicles as the major driver for the Electric Vehicle Parts And Components market's growth in the forecast period. An electric vehicle refers to a vehicle that is driven by one or more electric motors that are supplied with energy by an onboard battery pack. The functioning and usefulness of electric cars are made possible by the parts and components of electric vehicles working together to convert, store, distribute, and use electrical energy efficiently.
The global electric vehicle parts and components market is expected to grow from $156.25 billion in 2022 to $183.61 billion in 2023 at a compound annual growth rate (CAGR) of 17.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The electric vehicle parts and components market is expected to reach $330.10 billion in 2027 at a CAGR of 15.8%.
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Major competitors in the Electric Vehicle Parts And Components market are Ford Motor Company, General Motors, BMW Group, Robert Bosch GmbH, Tesla Inc., Siemens AG, Nissan Motor Manufacturing Ltd., Panasonic Corporation, Contemporary Amp Technology Co. Ltd., Denso Corporation, Continental AG, Hyundai Mobis Co Ltd., Magna International Inc., ABB Ltd., Toyota Industries Corporation, Aptiv plc, BorgWarner Inc., Samsung SDI Co Ltd., Maruti Suzuki Ltd., Hella KGaA Hueck & Co., NIO Inc., Ashok Leyland Ltd., Rivian Automotive Inc., Amara Raja Batteries Ltd., QuantumScape Corporation, Eastman Auto & Power Ltd., Okaya Power Ltd., Faraday Future, and Sparco Batteries Pvt Ltd.
A key trend in the Electric Vehicle Parts And Components market includes technological advancements. Companies operating in the electric vehicle parts and components market are innovating new technologies to sustain their position in the market. For instance, in May 2023, Volkswagen, a Germany-based vehicle manufacturer launched a new AV battery with a 1000 km range called Astroinno. The new battery may have a better energy density than typical lithium-iron-phosphate (LFP) batteries and be less expensive than those that primarily rely on nickel and cobalt.
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The Electric Vehicle Parts And Components market is segmented -
By Component: Battery Packs, DC-DC Converters, Controller And Inverter, Motor, Onboard Charger
By Vehicle: Passenger Cars, Commercial Vehicles
By Propulsion: Battery Electric Vehicle, Plug-in Hybrid Vehicle, Fuel Cell Electric Vehicle, Hybrid Electric Vehicle
By Sale Channel: OEM (Original Equipment Manufacturer), Aftermarket
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Electric Vehicle Parts And Components market.
The Business Research Company's "Global Electric Vehicle Parts And Components Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Electric Vehicle Parts And Components Market Include:
1. Executive Summary
2. Electric Vehicle Parts And Components Market Characteristics
3. Electric Vehicle Parts And Components Market Trends And Strategies
4. Electric Vehicle Parts And Components Market - Macro Economic Scenario
5. Global Electric Vehicle Parts And Components Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
……
32. Global Electric Vehicle Parts And Components Market Competitive Benchmarking
33. Global Electric Vehicle Parts And Components Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Electric Vehicle Parts And Components Market
35. Electric Vehicle Parts And Components Market Future Outlook and Potential Analysis
36. Appendix
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